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Companies need to start paying attention to their recruitment success rate by tracking metrics such as the quality of hires, satisfaction with the process and hiring failures, John Sullivan writes. Other business functions must justify their costs with their success and failure rates, and it's time recruitment did the same, he argues.

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The value of a great hiring process is the revenue provided by outstanding hires, not the "chump-change" that companies save by minimizing cost per hire, John Sullivan writes. To help recruiting experts emphasize this point to CEOs, Sullivan lists 10 ways that high-performers boost revenue, such as by spurring the creation of new products and services.

Hiring managers can "mess up" the hiring process and need "tough love to get it right," Lou Adler writes. For example, to improve their results, these managers should have their performance review include their hiring of quality people, the rate of turnover and job satisfaction among workers, he writes.

Too many companies wait until they're desperate for a hire before beginning their recruiting efforts, which means they often make mistakes, John Sullivan writes. Instead, recruiters should target key talent, then develop an ongoing relationship so they can recruit them when necessary, he writes.

Internal recruiting efforts by Lockton paid off with the hiring of key C-level talent and achieved better results for the company than outside recruiters, Lockton Recruitment Lead Mat Apodaca writes. While outside recruiters still are important, internal sources know the company better and can get more buy-in from employees and management to make the right hires, he writes.

John Sullivan, talent expert and management professor at San Francisco State University, suggests new data- and research-based metrics for college recruiting. Among the possibilities: Comparing the performance of recent graduates to previous college hires, calculating retention rates in six-month intervals and comparing diversity hiring with goals.